European PET prices supported by strong Asian feedstocks

12:31 PM MST | January 29, 2013 | Francinia Protti-Alvarez

Polyethylene terephthalate (PET) prices in Europe, despite lackluster demand, are being supported by bullish sentiment in Asian feedstock markets as well as high naphtha prices, IHS Chemical says. European demand for PET, although still within seasonal expectations, has improved only slightly since the beginning of the year, a recently published IHS Chemical report says. “European PET demand in winter is usually slow, and although there is some restocking taking place in January and February, there were some converters who bought significant volumes in...